MUNICH (dpa-AFX) – The mood in the German economy deteriorated again in September, albeit only slightly. The Ifo business climate fell by 0.1 points to 85.7 points compared to the previous month, as the Ifo Institute announced on Monday in Munich. Analysts on average had expected a slightly more significant decline to 85.2 points. It is the fifth decline in the important economic barometer in a row.
“The German economy is stalling,” said Ifo President Clemens Fuest, commenting on the survey of around 9,000 companies. The current situation was rated slightly worse than in the previous month, but business prospects rose slightly. The business climate increased in industry and trade, but it deteriorated among service providers and in construction./bgf/jsl/stk